The 'Two Percent' Mayoralty: How Tacoma's Populist Boss Won the Ticket

Prominent Democrats gathered in Tacoma on March 26, 1892, to finalize a ticket for the upcoming municipal election. The convention, held at Germania Hall, was marked by tension between the 'young Turks'—who ardently supported Tom Carroll—and the party elders, who were determined to install Alexander Parker as their mayoral candidate. Parker, a wealthy figure who had arrived in Tacoma in 1888, was famously dubbed 'Two Percent' for his reputation as a lender who undercut the 'greedy sharks' charging four percent interest. Despite the enthusiasm for Carroll, the convention floor was tightly controlled by party bosses. In a carefully orchestrated display, Parker appeared before the delegates to solidify his support. Even when opposition arose from delegates like W.H. Reed, the machine pushed the nomination through. Parker himself leaned into the theatrics, declaring, 'You have touched the button, the people will do the rest!'—a line that brought the house down. By the end of the session, the ticket was set, and the Democrats were hopeful that Parker’s personal fortune and popularity would propel them to victory against the Republicans.